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RE: [LandCafe] Labour goes for a Mansion Tax

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  • Harry Pollard
    Well said! Harry ... From: LandCafe@yahoogroups.com [mailto:LandCafe@yahoogroups.com] On Behalf Of Jock Coats Sent: Saturday, February 16, 2013 6:41 AM To:
    Message 1 of 5 , Feb 16, 2013
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      Well said!

      Harry

      -----Original Message-----
      From: LandCafe@yahoogroups.com [mailto:LandCafe@yahoogroups.com] On Behalf
      Of Jock Coats
      Sent: Saturday, February 16, 2013 6:41 AM
      To: LandCafe@yahoogroups.com
      Subject: Re: [LandCafe] Labour goes for a Mansion Tax

      I appear to be alone amongst my Lib Dem contacts in believing the Mansion
      Tax to be worse than useless in heralding a proper LVT.

      It will be seen as a tax on aspiration. The benefits of LVT are not
      primarily in revenue raising, which the Mansion Tax unashamedly is, but in
      the beneficial effects of a low rent economy. THis will do nothing to
      demonstrate those benefits and everything to make people think that any
      further proposal for LVT is simply about raising more money.

      Far better, since Vince is in charge of the relevant department, and it is
      party manifesto policy, and the existing tax it would replace badly needs
      reforming, would be to replace National Non-Domestic Rate with Site Value
      Rating.

      And doubly good - far better than giving Mary Portas thousands of pounds for
      her committees to dress up as cartoon characters to revive the high street.

      On 16 Feb 2013, at 14:17, "John" <burns-john@...> wrote:

      > The Labour party have come out in support of a mansion tax if they will
      the next election in 2 years time. It proposes taxing properties worth £2m a
      yearly tax of around 1%. The policy has been supported by the LibDems for
      years. Not a LVT, but a big stepping stone in the right direction.
      >
      > Unfortunately it does not target land 100%. The tax takes into account
      land and the building. You may find the land is worth more than the building
      in London mansions worth over £2m. The LibDems also have mansion tax which
      the Tories in the coalition would not entertain. Vince Cable the LibDems top
      economics man viewed it as a way of getting a land tax in, replacing Council
      Tax, the current property tax.
      >
      > So a £2m house will pay £20,000 per ann. Nice. I doubt it will stop the
      mega-rich Russians and Greeks buying up London property. The lesser rich
      will shy away from a £20,000 per ann. tax. So something may happen.
      >
      > Ed Milliband, the Labour leader, is LVT leaning, not fully converted I
      assume.
      >
      >

      --
      Jock Coats
      Warden's Flat 1e, J Block Morrell Hall, OXFORD, OX3 0FF
      m: 07769 695767 skype:jock.coats?call
      jock.coats@... http://jockcoats.me









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